Kim Gatley Sr. Vice President & Director of Research NAI REOC Austin (bio) Got a Commercial Real Estate Need or Question? Ask One of Our Trusted Advisors
NAI REOC Austin recently assisted in the sale of 42.6 acres on Heatherwilde Blvd. in Pflugerville, Texas. The site is located near existing and future mixed-use residential developments and is situated only one mile north of the Dell Computer Campus in Austin.
The property will be developed as a K thru 12 parochial school operated by the Lutheran School Association. The school will be perfectly positioned to serve the community with an academically-advanced private school.
Kurt VanderMeulen, Senior Vice President, and Joyce Jane Weedman, Senior Vice President, both with NAI REOC Austin represented the seller - Otello Investment Management, LLC. The Buyer was represented by Paul Joseph of Paul Joseph Commercial, Inc.
Independence Title Co. purchased 5900-2 Shepherd Mountain Cove. The 45,000-square-foot office building in Northwest Austin will serve as the company’s corporate headquarters starting in 2013.
In one of the area’s larger office deals in recent years, Austin-based Aquila Commercial has brokered the $95 million sale of three Austin office buildings to two of its clients, including one building that will be the new headquarters for fast-growing University Federal Credit Union.
University Federal Credit Union plans to consolidate about 250 administrative workers from four locations into the newly purchased building, called 8303 MoPac. Sitting at MoPac Boulevard (Loop1) and Steck Avenue, the 246,000-square-foot building was built in 1987 and is 94 percent leased. …Read Entire Post
Duke Realty acquired a four-story medical office building on the campus of the Cedar Park Regional Medical Center. The purchase price of the 83,383-square-foot building was not disclosed.
The acquisition brings Indianapolis-based company’s holding in the Austin area to more than 180,000 square feet of medical office space, and its total Texas portfolio to nearly 1.2 million square feet.
Live Oak-Gottesman LLC purchased The Shops at Ladera Bend (7300 RM 2222) in Northwest Austin from Wells Fargo on Friday for an undisclosed amount.
Live Oak-Gottesman plans to lease and manage the property. Retail spaces ranging from around 1,050 square feet to 13,000 square feet are available for lease. Current tenants include Collins Endodontics and Anytime Fitness.
Over $150 million changed hands in the Austin area over the past year for ranches, buildings and lots, according to public record.
The Austin Business Journal recently released a list of the top 15 commercial deeds recorded in the Austin area. Three of those deeds were in Travis County. The biggest deal was a $31 million purchase of over 5,000 acres in Hays County.
•No. 1: Needmore Ranch II Ltd. bought 5,041 acres in Hays County from New Blanco River Ranch for $31.5 million. …Read Entire Post
Kurt VanderMeulen and Josh Hubka of NAI REOC Austin represented the sale of 20.45 acres located on Abbotsbury Drive situated northwest of Volente Road (FM 2769) in Cedar Park. Scott Muller purchased the property.
The KBS Real Estate Investment Trust III has bought Las Cimas IV in Southwest Austin. The 138,008-square-foot office building is in the Las Cimas office park, eight miles from downtown. California-based KBS REIT III will pay $35.9 million plus closing costs for the property, according to the U.S. Securities and Exchange Commission.
An Austin-based firm that specializes in acquiring “undervalued real estate assets” confirmed Friday that it has purchased three high-profile downtown area properties. World Class Capital Group, led by President and CEO Nate Paul, is the new owner of the La Zona Rosa building, as well as buildings that housed a pair of now-closed restaurants, Spaghetti Warehouse and Katz’s Deli.
